Chemlite Innovation Berhad (“Chemlite Innovation” or the “Company”), a leading engineering support services provider specializing in surface finishing treatment solutions, is excited to announce the launch of its prospectus in conjunction with the Company’s Initial Public Offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
The IPO is expected to raise RM30 million through the issuance of 120,000,000 new shares. The proceeds from the offering will be strategically allocated to furthering the Company’s business expansion with a strong emphasis on several key areas:
- Expansion of Operational Capabilities: This includes the construction of an additional operating facility, the setup of cleanrooms, investment in advanced machinery and equipment, and the establishment of a dedicated research and development (“R&D”) department.
- Strengthening Working Capital: Aimed at supporting business growth and fulfilling operational needs, ensuring Chemlite Innovation’s long-term sustainability and success.
Mr. Chong Yuen Fong, Executive Director and CEO of Chemlite Innovation Berhad, commented, “The launch of our prospectus marks a significant milestone in Chemlite Innovation’s growth journey. This IPO represents a major step in realizing our vision to expand our capabilities and push the boundaries of innovation within the surface finishing treatment sector. The funds raised will enable us to expand our anodising services, particularly by constructing a new facility to accommodate increased capacity. This new facility will allow us to capture a larger market share and solidify our position as a trusted partner, particularly within the semiconductor, electrical, and electronics industries.”
Mr. Heng Chee Khiang, Executive Director and COO of Chemlite Innovation Berhad, added, “This listing will offer Chemlite Innovation a vital platform to generate greater value for our customers and stakeholders. The proceeds raised will allow us to meet the growing demands of our global clients while enhancing our operational capabilities and innovation in surface finishing solutions.”
Mr. David Lim, Chief Executive Officer of UOB Kay Hian Securities (M) Sdn Bhd, shared, “Chemlite Innovation has established itself as a reputable leader in surface finishing treatment services, with a strong track record, excellent technical capabilities, and a clear growth strategy. This IPO will provide the Company with the necessary resources to expand its facilities and service offerings, securing its position as a leader in the industry.”
Chemlite Innovation has earned its reputation for delivering high-quality surface finishing treatment solutions, powered by state-of-the-art facilities located at Penang Science Park. The Company’s continuous investment in cleanroom and automation technologies underscores its commitment to operational excellence and meeting stringent customer requirements. The IPO will enable Chemlite Innovation to enhance its market presence and position itself for sustainable long-term growth.
UOB Kay Hian Securities (M) Sdn Bhd is the Principal Adviser, Sponsor, Underwriter, and Placement Agent for the IPO, ensuring a seamless and successful listing process. The upcoming listing on Bursa Malaysia’s ACE Market is expected to further strengthen Chemlite Innovation’s reputation and open up new avenues for growth.
UOB Kay Hian Securities (M) Sdn Bhd is a leading investment bank that provides a wide range of financial services, including corporate finance, securities brokerage, and investment banking. As the Principal Adviser, Sponsor, Underwriter, and Placement Agent for Chemlite Innovation’s IPO, UOB Kay Hian is committed to ensuring the successful execution of the listing process and supporting the Company in its next phase of growth.
